Court seeks ATR on Rs 11 cr cheating case against Yes Bank

New Delhi: A court here has sought an action taken report from the Delhi Police’s Economic Offence Wing on a complaint filed by an exporter alleging that he was cheated and duped of Rs 11 crore by some officials of a private bank and four others.

Additional Chief Metropolitan Magistrate (ACMM) Gautam Manan sought the report from the EOW cell after complainant Narendra Kumar Rajgarhia alleged that despite various police complaints, no action has been taken.

“Copies of the various complaints have been filed by the complainant in support of his averment made in the complaint. Let Action Taken Report (ATR) be called from EOW Cell in respect of the complaint dated June 23, 2012 given by the complainant,” the magistrate said and fixed the matter for October 18 for further hearing.

Rajgarhia, a proprietor of Texcomach Export here, alleged he was mislead by one R U K Zuberi as the latter in connivance with the officials of Yes Bank conspired and cheated him. He said Zuberi, in connivance with others including Rana Kapoor, Managing Director of Yes Bank, fabricated bank records and papers related to sanction of Rs 11 crore loan to his company.

In his complaint filed through counsel Ramakant Gaur, Rajgarhia said Kapoor along with some other officials of the bank, Sanjay Aggarwal, Kapil Chugh, Manoj Garg and Zuberi conspired and fabricated the documents relating to sanctioning of the loan and also the records of his company.

Rajgarhia said he had paid Rs 85 lakh to them for rendering their services relating to availment of loan from the bank. The complainant alleged that these persons introduced him to the bank officials in 2007 and he was made to sign documents, blank papers for the purpose of applying for loan.

He said Aggarwal and Chugh had told him that they have expertise in export business and they could get his money multiplied. They, however, cheated, he claimed.

The complainant claimed that it was in March last year that he came to know about the banking fraud and that the four persons (Aggarwal, Chugh, Garg and Zuberi) were the “masterminds” behind the fraud.

“As of today, Rs seven crore export bills payment are pending in Yes Bank. So in total almost Rs 11 crore have been siphoned from the account by the accused in connivance with each other,” the complaint said.